LPL Financial Portfolio holdings
LPL Financial, founded in 1989 through the merger of Linsco and Private Ledger and headquartered in San Diego, California, is the largest independent broker-dealer in the U.S., supporting over 22,000 financial advisors who manage more than $1.4 trillion in advisory and brokerage assets as of late 2024. Serving independent advisors, banks, and credit unions, LPL provides a robust technology platform, research, and back-office support, enabling advisors to offer personalized wealth management, retirement planning, and investment services to clients without proprietary products. The firm, publicly traded since 2010 under CEO Dan Arnold, has grown through acquisitions like Waddell & Reed’s wealth management business in 2021, emphasizing flexibility and advisor autonomy. With additional offices in Fort Mill, South Carolina, and Boston, LPL Financial remains a leader in empowering advisors amid a shifting financial landscape.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares S&P 500 Value ETF
IVE
|
+$517M |
| 2 |
Capital Group Dividend Value ETF
CGDV
|
+$468M |
| 3 |
iShares Core MSCI Emerging Markets ETF
IEMG
|
+$367M |
| 4 |
Capital Group Growth ETF
CGGR
|
+$301M |
| 5 |
Vanguard S&P 500 ETF
VOO
|
+$293M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI USA Quality Factor ETF
QUAL
|
+$461M |
| 2 |
State Street Financial Select Sector SPDR ETF
XLF
|
+$130M |
| 3 |
BSCP
Invesco BulletShares 2025 Corporate Bond ETF
BSCP
|
+$119M |
| 4 |
Schwab US Dividend Equity ETF
SCHD
|
+$113M |
| 5 |
Pacer US Cash Cows 100 ETF
COWZ
|
+$103M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 8.6% |
| 2 | Financials | 3.6% |
| 3 | Consumer Discretionary | 2.68% |
| 4 | Communication Services | 2.56% |
| 5 | Healthcare | 2.4% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
TTEQ
2176
T. Rowe Price Technology ETF
TTEQ
$389M
| $7.6M | ﹤0.01% |
+233,742
| New | +$7.68M |
|
2177
Alaska Air
ALK
$5.27B
| $7.58M | ﹤0.01% |
150,652
+41,512
| +38% | +$1.92M |
|
2178
Harbor International Compounders ETF
OSEA
$493M
| $7.57M | ﹤0.01% |
250,249
-98,030
| -28% | -$2.97M |
|
2179
Live Nation Entertainment
LYV
$43B
| $7.57M | ﹤0.01% |
53,119
-2,672
| -5% | -$384K |
|
2180
Dycom Industries
DY
$12B
| $7.56M | ﹤0.01% |
22,384
+7,949
| +55% | +$2.51M |
|
2181
Regency Centers
REG
$13.9B
| $7.55M | ﹤0.01% |
109,347
-11,145
| -9% | -$781K |
|
2182
FT Vest US Equity Buffer ETF July
FJUL
$1.26B
| $7.54M | ﹤0.01% |
134,924
-6,527
| -5% | -$360K |
|
|
HQL
2183
abrdn Life Sciences Investors
HQL
$633M
| $7.53M | ﹤0.01% |
448,846
+74,787
| +20% | +$1.26M |
|
2184
iShares iBonds Dec 2028 Term Muni Bond ETF
IBMQ
$662M
| $7.53M | ﹤0.01% |
294,479
+17,477
| +6% | +$446K |
|
2185
BlackRock Large Cap Value ETF
BLCV
$348M
| $7.51M | ﹤0.01% |
201,257
+115,115
| +134% | +$4.19M |
|
|
LODI
2186
AAM SLC Low Duration Income ETF
LODI
$97.5M
| $7.51M | ﹤0.01% |
297,253
+15,923
| +6% | +$403K |
|
2187
Antero Resources
AR
$11.4B
| $7.51M | ﹤0.01% |
217,804
-65,932
| -23% | -$2.23M |
|
2188
Abercrombie & Fitch
ANF
$5.27B
| $7.5M | ﹤0.01% |
59,557
-24,499
| -29% | -$2.14M |
|
2189
Zebra Technologies
ZBRA
$17.9B
| $7.49M | ﹤0.01% |
30,853
-53,961
| -64% | -$14.4M |
|
2190
Genpact
G
$5.74B
| $7.49M | ﹤0.01% |
160,039
-4,974
| -3% | -$215K |
|
2191
BlackRock Debt Strategies Fund
DSU
$601M
| $7.48M | ﹤0.01% |
735,239
+11,905
| +2% | +$122K |
|
2192
Incyte
INCY
$24.6B
| $7.47M | ﹤0.01% |
75,663
-234,975
| -76% | -$22.7M |
|
2193
Joby Aviation
JOBY
$8.71B
| $7.46M | ﹤0.01% |
564,809
+100,655
| +22% | +$1.54M |
|
2194
Nuveen Municipal High Income Opportunity Fund
NMZ
$2.2B
| $7.45M | ﹤0.01% |
731,023
+128,087
| +21% | +$1.35M |
|
2195
Invesco BulletShares 2033 Municipal Bond ETF
BSSX
$135M
| $7.42M | ﹤0.01% |
286,962
+10,803
| +4% | +$279K |
|
2196
Norwegian Cruise Line
NCLH
$8.52B
| $7.41M | ﹤0.01% |
332,003
+48,202
| +17% | +$1.02M |
|
2197
Golub Capital BDC
GBDC
$3.41B
| $7.4M | ﹤0.01% |
545,278
+116,330
| +27% | +$1.61M |
|
2198
WisdomTree Global High Dividend Fund
DEW
$155M
| $7.38M | ﹤0.01% |
119,856
-3,495
| -3% | -$212K |
|
2199
iShares MSCI Poland ETF
EPOL
$817M
| $7.37M | ﹤0.01% |
209,487
-14,401
| -6% | -$487K |
|
2200
BigBear.ai
BBAI
$1.55B
| $7.37M | ﹤0.01% |
1,364,593
+395,599
| +41% | +$2.58M |
|
Similar funds
LPL Financial's Q4 2025 Portfolio in Review
As of Q4 2025, LPL Financial held 6,133 positions worth $366B, up 6.7% from $343B the previous quarter. Its ten largest holdings account for 15% of the portfolio.
LPL Financial deployed $17.7B of net new capital in Q4 2025, opening 355 new positions and adding to 3,269 existing holdings. Its largest new stake was Akre Focus ETF: 2,308,689 shares worth $151M.
By sector, the portfolio is most concentrated in Technology at 8.6% of assets, down from 8.8% a quarter earlier, followed by Financials and Consumer Discretionary.
On the sell side, the largest reduction was iShares MSCI USA Quality Factor ETF, an estimated $461M trimmed.
- LPL Financial's largest Q4 2025 buy was Akre Focus ETF: 2,308,689 shares worth $151M.
- LPL Financial added most to iShares S&P 500 Value ETF in Q4 2025, an estimated $517M increase.
- LPL Financial's biggest Q4 2025 reduction was iShares MSCI USA Quality Factor ETF, cutting an estimated $461M.
- LPL Financial fully exited Invesco BulletShares 2025 Corporate Bond ETF in Q4 2025, selling an estimated $119M.
- LPL Financial's ten largest holdings make up 15% of its $366B portfolio in Q4 2025.
- LPL Financial opened 355 new positions and closed 267 in Q4 2025.
- LPL Financial's portfolio value rose 6.7% quarter-over-quarter to $366B.
Based on LPL Financial's 13F filing for Q4 2025, filed 11 Feb 2026.